| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers H > Headlines for HSBC USA Inc. > News item |
HSBC to price up and out buffer notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., April 7 - HSBC USA Inc. plans to price 0% up and out buffer notes due Nov. 1, 2010 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index closes above the barrier level - 160% of the initial level - on any day during the life of the notes, the payout at maturity will be par plus the knock-out rebate, which is expected to be 10% to 14% and will be set at pricing.
If the index does not close above the barrier level, the payout will be:
• Par plus any index gain;
• Par if the index declines by 15% or less;
• Par minus 1% for every 1% that the index declines beyond 15%.
The notes are expected to price April 27 and settle April 30.
HSBC Securities (USA) Inc. is the agent.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.